AstraZeneca Says FDA Will Review Application for Bladder Cancer Drug
December 09 2016 - 2:11PM
Dow Jones News
By Imani Moise
AstraZeneca PLC said Friday the U.S. Food and Drug
Administration had accepted a license application for its new
bladder-cancer drug.
Shares for AstraZeneca PLC, which have declined 20% so far this
year, climbed 3.3% in afternoon trading in the U.S. after being
halted for the news. The acceptance was largely expected.
Chief Medical Officer Sean Bohen said the review status for
durvalumab, a radiation-free treatment, is "an exciting advance"
for the company as it continues to push into chemotherapy-free
solutions. Approval of the drug would make AstraZeneca the fourth
to market in this category of drugs, after rivals Merck & Co.,
Bristol-Myers Squibb Co. and Roche Holding Ltd.
Astra has been hoping a string of new drugs will help return the
company to sustainable growth after years of flat or falling
revenue, as old best-sellers lose out to cheaper copycats after
losing patent protection.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
December 09, 2016 13:56 ET (18:56 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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